Vijay Solvex Ltd

₹ 1,333 -0.61%
19 Aug - close price
About

Vijay Solvex Limited (VSL) was incorporated in 1987 by Mr. Niranjan Lal Data and his family. VSL is engaged in processing crude and refined edible oil, Vanaspati Ghee, and mustard oil cake from mustard seeds. The company sells De-oiled cake (DOC); a by-product produced through further processing of mustard oil cake. The company also sells refined blended edible oils. VSL is also engaged in wind power generation, manufacturing of fine bone china crockery, and High Tension (HT) porcelain insulators. [1]

Key Points

Products and Brands
Edible Oil Division-leading regional player in edible oil and Vanaspati ghee under the brand names of ‘Scooter’, ‘Chancellor’, ‘Oligo’, ‘Shiv’, ‘Sikandar’, ‘Neeraj’ and ‘Hanuman’.

Ceramic Division- fine bone china tableware, Decorative Ceramic Items, Grey Insulators, and H.T. Porcelain Insulators [1]

  • Market Cap 427 Cr.
  • Current Price 1,333
  • High / Low 4,155 / 1,272
  • Stock P/E 8.94
  • Book Value 1,017
  • Dividend Yield 0.00 %
  • ROCE 19.4 %
  • ROE 20.2 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 44.5% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Edible Oil Industry: Solvent Extraction

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
353.64 338.31 405.41 350.43 454.71 465.02 593.49 556.45 653.96 627.22 614.36 819.99 657.64
346.24 332.88 396.37 336.75 445.07 453.22 574.16 518.89 636.55 606.31 609.98 791.01 649.65
Operating Profit 7.40 5.43 9.04 13.68 9.64 11.80 19.33 37.56 17.41 20.91 4.38 28.98 7.99
OPM % 2.09% 1.61% 2.23% 3.90% 2.12% 2.54% 3.26% 6.75% 2.66% 3.33% 0.71% 3.53% 1.21%
0.07 1.22 0.65 0.08 1.98 0.97 3.02 2.08 2.27 5.46 2.05 1.40 1.25
Interest 2.44 0.68 0.74 4.19 -3.21 -2.13 -0.79 1.30 0.59 1.18 0.38 2.17 2.46
Depreciation 0.40 0.39 0.40 0.87 0.54 0.50 0.52 0.63 0.56 0.59 0.58 0.60 0.61
Profit before tax 4.63 5.58 8.55 8.70 14.29 14.40 22.62 37.71 18.53 24.60 5.47 27.61 6.17
Tax % 35.21% 12.90% 25.03% 26.55% 25.12% 24.24% 23.92% 25.93% 21.96% 24.59% 26.33% 26.19% 22.04%
Net Profit 3.01 4.86 6.41 6.39 10.70 10.92 17.22 27.93 14.46 18.55 4.03 20.37 4.81
EPS in Rs 9.40 15.18 20.01 19.95 33.41 34.10 53.77 87.21 45.15 57.92 12.58 63.60 15.02

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
768 662 685 879 1,226 1,448 2,070 2,716 2,719
755 648 669 859 1,200 1,412 1,991 2,644 2,657
Operating Profit 13 14 16 20 26 36 78 72 62
OPM % 2% 2% 2% 2% 2% 2% 4% 3% 2%
-0 0 1 0 2 2 8 11 10
Interest 6 5 2 3 7 8 -4 4 6
Depreciation 2 1 1 2 2 2 2 2 2
Profit before tax 6 8 14 16 19 27 89 76 64
Tax % 20% 30% 34% 36% 34% 25% 25% 25%
Net Profit 5 5 9 10 13 21 67 57 48
EPS in Rs 14.49 16.89 28.20 32.07 39.78 64.54 208.49 179.23 149.12
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 32%
3 Years: 30%
TTM: 20%
Compounded Profit Growth
10 Years: %
5 Years: 45%
3 Years: 65%
TTM: -32%
Stock Price CAGR
10 Years: %
5 Years: 37%
3 Years: 114%
1 Year: -70%
Return on Equity
10 Years: %
5 Years: 19%
3 Years: 23%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
3 3 3 3 3 3 3 3
Reserves 76 81 103 123 131 154 238 323
60 64 61 97 80 85 116 148
24 23 22 23 28 42 53 43
Total Liabilities 163 172 190 246 243 284 411 516
15 15 16 16 18 20 22 24
CWIP 10 10 10 10 10 11 10 10
Investments 17 17 51 60 57 61 83 117
121 130 114 160 158 192 296 366
Total Assets 163 172 190 246 243 284 411 516

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
44 4 23 -38 53 46 -22 41
1 -0 -18 0 -14 -6 -58 74
-46 -2 -5 32 -25 -5 29 28
Net Cash Flow -1 1 -0 -5 14 35 -51 143

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 14 14 15 21 14 9 7 6
Inventory Days 17 40 28 33 16 9 19 19
Days Payable 9 9 7 6 5 8 7 4
Cash Conversion Cycle 22 45 36 49 25 10 19 21
Working Capital Days 42 53 44 56 30 20 29 23
ROCE % 9% 10% 10% 12% 15% 28% 19%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
67.95 67.95 67.95 67.95 67.95 67.95 67.95 67.95 66.16 66.16 66.16 66.16
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.03 0.03 0.03 0.03
32.05 32.05 32.05 32.05 32.05 32.05 32.05 32.00 33.81 33.81 33.81 33.81

Documents